BABURAO Vs. PANDHARINATH

JUDGEMENT

(1.) THIS appeal arises out of a suit, for foreclosure of a mortgage executed on 20th April 1920 by defendant 1 Yeshwantarao for himself and as guardian of his minor son Baburao, defendant 2, in plaintiff's favour for a consideration of Rs. 11,000, which was made up as under:

(2.) THE mortgage debt was repayable in twenty annual instalments of Rs. 550 each and interest on the entire principal at the rate of 12 per cent per mensem was to be paid along with each instalment. The defaulted instalments were to carry interest at Rs. 1-4-0 per cent per mensem at compound rate and the whole debt was exigible on failure to pay three instalments. As nothing was repaid the plaintiff filed the suit, out of which this appeal arises, in the Court oi the District Judge, Bhandara, on 4th August 1924 to enforce the mortgage and to recover Rs. 16,116-6-0 as per account given in para 9 of the plaint. Defendant 1 admitted the execution and receipt of the full consideration of the mortgage bond in suit but wanted relief in respect of the interest charged on the ground that it was penal. As he declined to act as guardian ad litem of his minor son, defendant 2 his brother Jaikrishna, i.e., the uncle of the boy, was appointed guardian ad litem and the claim on behalf of defendant 2 was denied in toto and contested on all possible grounds.

(3.) IN a well reasoned and elaborate judgment the learned District Judge recorded the following findings: